Campground Re-Development
The Municipal Borrowing By-law serves as a loan guarantee and is a legislated requirement of the Province.
The Town will not be borrowing the funds.
The funds will be borrowed by the Minnedosa Parks & Recreation Board, which will be solely responsible for making the annual loan payments.
Municipal taxpayers will not be responsible for repaying this borrowing.
In the event that the Minnedosa Parks & Recreation Board is unable to fulfill its financial obligations, the Town shall provide financial assistance by way of a repayable grant.